Billionaire parties are still raging

Despite the epic, worldwide financial hangover, billionaires are still spending lavishly. Fortune took a look at some of the memorable private parties.

Billionaires are still partying. This summer, Leon Black's 60th birthday bash in Southampton brought out a who's who of the giants of private equity, banking, fashion and politics. The lavish fete drew immediate comparisons to Steve Schwarzman's now-infamous party in 2007, which heralded an epic, worldwide financial hangover.

But these parties still happen more often than you might think. If you didn't make the guest list this weekend, join Fortune instead by reliving some of the standout billionaire bashes of recent history.

By Alex Konrad - Last updated August 29 2011: 8:49 AM ET